State Street CEO Says 10-Year Yields Will Probably Top Out at 5%

WATCH: “If you talk to our chief investment officer, she would say this is the time to start thinking about adding some duration,” State Street CEO Ron O’Hanley says.Source: Bloomberg

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By Adveith Nair and Yousef Gamal El-Din

October 24, 2023 at 6:14 AM UTC

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The yield on 10-year US Treasuries will “probably” top out at 5%, according to the head of one of the world’s largest asset managers.

“If you talk to our chief investment officer, she would say this is the time to start thinking about adding some duration,” State Street Corp. Chief Executive Officer Ron O’Hanley said in an interview with Bloomberg TV on Tuesday. “I don’t think anyone can call the top, but when you look at the 10-year just touching a bit over 5%, probably it is.”